US stock futures slightly higher on hopes of a smaller Fed rate cut

U.S. stock index futures were mixed on Monday morning as expectations of aggressive policy easing from the Federal Reserve dampen. ET, Dow futures were 27 points higher and pointed to an implied positive open of around 14 points. Futures on the S&P 500 and Nasdaq were also marginally higher. Market focus is heavily attuned to the U.S. central bank as hopes of a 50 basis point cut to interest rates at its Federal Open Market Committee (FOMC) meeting wane. The Science and Technology Innovation Boa


U.S. stock index futures were mixed on Monday morning as expectations of aggressive policy easing from the Federal Reserve dampen. ET, Dow futures were 27 points higher and pointed to an implied positive open of around 14 points. Futures on the S&P 500 and Nasdaq were also marginally higher. Market focus is heavily attuned to the U.S. central bank as hopes of a 50 basis point cut to interest rates at its Federal Open Market Committee (FOMC) meeting wane. The Science and Technology Innovation Boa
US stock futures slightly higher on hopes of a smaller Fed rate cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: elliot smith
Keywords: news, cnbc, companies, higher, stock, sp, hopes, rate, reporting, slightly, saw, point, open, cut, fed, meeting, smaller, market, nasdaq, points, futures


US stock futures slightly higher on hopes of a smaller Fed rate cut

U.S. stock index futures were mixed on Monday morning as expectations of aggressive policy easing from the Federal Reserve dampen.

At around 2:30 a.m. ET, Dow futures were 27 points higher and pointed to an implied positive open of around 14 points. Futures on the S&P 500 and Nasdaq were also marginally higher.

Market focus is heavily attuned to the U.S. central bank as hopes of a 50 basis point cut to interest rates at its Federal Open Market Committee (FOMC) meeting wane. A Wall Street Journal report on Friday suggested a more cautious 25 basis point cut is likely following comments from several senior Fed officials..

Friday saw the S&P 500 and Nasdaq fall 1% each to close at their biggest weekly losses since late May, while the Dow lost 0.6%, after the indexes had notched all-time highs earlier in the week.

China’s new Nasdaq-style tech index began trading on Monday amid a flurry of buying from investors. The Science and Technology Innovation Board, or STAR Market, saw shares of the 25 companies listed soaring from the outset.

Earnings season stateside remains in focus, with Halliburton, Royal Philips and RPM International reporting before the bell on Monday. Whirlpool and TD Ameritrade are among those reporting after the bell.

Investors will also have one eye on geopolitical developments, as Britain weighs its options after the Iranian military seized a British oil tanker. Outgoing Prime Minister Theresa May will chair an emergency response committee meeting on Monday to discuss the crisis.

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Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: elliot smith
Keywords: news, cnbc, companies, higher, stock, sp, hopes, rate, reporting, slightly, saw, point, open, cut, fed, meeting, smaller, market, nasdaq, points, futures


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NASA is considering this inflatable space habitat for its return to the moon

What to watch in markets for the week aheadMore than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month. Market Insiderread more


What to watch in markets for the week aheadMore than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month. Market Insiderread more
NASA is considering this inflatable space habitat for its return to the moon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: brian clark
Keywords: news, cnbc, companies, meeting, markets, considering, monthmarket, investors, return, market, nasa, habitat, report, watch, space, inflatable, sp, quarter, week, moon


NASA is considering this inflatable space habitat for its return to the moon

What to watch in markets for the week ahead

More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month.

Market Insider

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: brian clark
Keywords: news, cnbc, companies, meeting, markets, considering, monthmarket, investors, return, market, nasa, habitat, report, watch, space, inflatable, sp, quarter, week, moon


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White House to host meeting with tech executives on Huawei ban

U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019. U.S. officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and software executives to discuss the U.S. ban on Huawei Technologies, two sources briefed on the meeting said on Friday. The United States placed Huawei on the Commerce Department’s so-called Entity


U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019. U.S. officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and software executives to discuss the U.S. ban on Huawei Technologies, two sources briefed on the meeting said on Friday. The United States placed Huawei on the Commerce Department’s so-called Entity
White House to host meeting with tech executives on Huawei ban Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: spencer kimball
Keywords: news, cnbc, companies, host, secretary, white, house, united, executives, meeting, tech, ban, steven, states, sources, huawei, companies, treasury


White House to host meeting with tech executives on Huawei ban

U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019.

U.S. officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and software executives to discuss the U.S. ban on Huawei Technologies, two sources briefed on the meeting said on Friday.

The United States placed Huawei on the Commerce Department’s so-called Entity List in May over national security concerns. U.S. parts and components generally cannot be sold to those on the list without special licenses.

However, U.S. President Donald Trump, who is seeking to revive trade talks with China, announced late last month that U.S. companies would be allowed to sell products to Huawei.

The White House did not immediately comment on the meeting.

One of the sources said invited companies included chipmakers Intel, Micron Technology, Qualcomm and Broadcom. Microsoft was also invited.

Intel and Qualcomm declined to comment.

The United States may approve licenses for companies to restart new sales to Huawei in as little as two weeks, a senior U.S. official said last week.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: spencer kimball
Keywords: news, cnbc, companies, host, secretary, white, house, united, executives, meeting, tech, ban, steven, states, sources, huawei, companies, treasury


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Jared Kushner has been meeting with Trump campaign officials to discuss 2020 fundraising and spending strategy

Jared Kushner, senior adviser to President Trump, listens to President Trump during a listening session with cyber security experts in the Roosevelt Room the White House in Washington. President Donald Trump’s son-in-law Jared Kushner, who is also a senior White House advisor, is regularly giving counsel to 2020 Trump campaign leaders on how to appeal to online donors and where to spend their money. As recently as Thursday, Kushner met with campaign leadership, including campaign chief Brad Pars


Jared Kushner, senior adviser to President Trump, listens to President Trump during a listening session with cyber security experts in the Roosevelt Room the White House in Washington. President Donald Trump’s son-in-law Jared Kushner, who is also a senior White House advisor, is regularly giving counsel to 2020 Trump campaign leaders on how to appeal to online donors and where to spend their money. As recently as Thursday, Kushner met with campaign leadership, including campaign chief Brad Pars
Jared Kushner has been meeting with Trump campaign officials to discuss 2020 fundraising and spending strategy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: brian schwartz
Keywords: news, cnbc, companies, trump, house, kushner, hes, hatch, spending, strategy, white, meeting, officials, jared, fundraising, trumps, discuss, campaign


Jared Kushner has been meeting with Trump campaign officials to discuss 2020 fundraising and spending strategy

Jared Kushner, senior adviser to President Trump, listens to President Trump during a listening session with cyber security experts in the Roosevelt Room the White House in Washington.

President Donald Trump’s son-in-law Jared Kushner, who is also a senior White House advisor, is regularly giving counsel to 2020 Trump campaign leaders on how to appeal to online donors and where to spend their money.

As recently as Thursday, Kushner met with campaign leadership, including campaign chief Brad Parscale, along with Republican National Committee Chair Ronna McDaniel.

Kushner and Parscale regularly hold strategy sessions on how to improve messaging about Trump’s accomplishments to small-dollar donors, according to people with direct knowledge of the matter. Kushner also has pushed for the campaign to spend more money on the digital fundraising operation rather than relying on more traditional methods such as mailers.

Parscale was the campaign’s digital director in 2016. Kushner, as an advisor for Trump’s first presidential run, had the campaign use Facebook and other social media platforms to make pitches to voters.

At the meeting last week, which took place at the Trump campaign headquarters in Virginia, Kushner was briefed on how the campaign’s fundraising strategy has fared in each state throughout the second quarter, these people added. The gathering took place five days before the campaign’s filing deadline. While the sources did not elaborate on what Kushner was told, data compiled by the nonpartisan Center for Responsive Politics shows the campaign’s top donor states are Texas, Florida, California and New York.

An RNC official confirmed Kushner’s attendance at the meeting but tried to downplay its importance.

“This meeting was just a general campaign update which included an update from [2020 digital director] Gary Coby on online fundraising. Jared’s only comments related to how well he thought everything was going,” the aide told CNBC.

The White House declined to comment. The Trump campaign did not return a request for comment.

The campaign announced this week that 98% of the 957,000 individual donations it received in the second quarter came from people giving $200 or less. Trump’s three campaign committees and the RNC combined to end the quarter raising over $100 million. Without having to compete in a primary, Trump is dominating Democrats in the overall fundraising game. Pete Buttigieg led Democratic presidential candidates with $24.8 million raised in the second quarter.

Kushner’s engagement with the campaign has led Democrats to question whether the president’s son-in-law has been violating the Hatch Act, which prohibits White House officials from engaging in some forms of political activity outside the administration.

Reps. Donald Beyer, D-Va., and Ted Lieu, D-Calif., sent a letter last month to the Office of Special Counsel, which enforces the Hatch Act, asking for an investigation. The request came after Kushner reportedly had “multiple daily conversations” with Parscale about the campaign, according to Yahoo, and organized a meeting with top donors, including Blackstone CEO Steve Schwarzman, at the White House, The New York Times previously reported.

Paul Seamus Ryan, a litigator at ethics watchdog Common Cause, told CNBC that unless Kushner has been soliciting donations, he’s probably not violating the Hatch Act.

“Legally I think the question is whether he’s soliciting contributions or if he’s not. If the answer is no, he’s probably not violating the Hatch Act,” Ryan said. “If he’s only giving strategic advice, that’s different from soliciting the money.”


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: brian schwartz
Keywords: news, cnbc, companies, trump, house, kushner, hes, hatch, spending, strategy, white, meeting, officials, jared, fundraising, trumps, discuss, campaign


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Asia stocks mixed as RBA meeting minutes show willingness to move on interest rates

Stocks in Asia were mixed on Tuesday, as minutes from a recent meeting by the Reserve Bank of Australia showed the central bank’s willingness to move on monetary policy if necessary. Shares of Chinese tech heavyweight Xiaomi slipped 0.32%. The Nikkei 225 in Japan, which returned to trade after a holiday on Monday, slipped 0.69% to end its trading day at 21,535.25. The Topix index also shed 0.48% to close at 1,568.74,South Korea’s Kospi ended its trading day 0.45% higher at 2,091.87. The Korea Ex


Stocks in Asia were mixed on Tuesday, as minutes from a recent meeting by the Reserve Bank of Australia showed the central bank’s willingness to move on monetary policy if necessary. Shares of Chinese tech heavyweight Xiaomi slipped 0.32%. The Nikkei 225 in Japan, which returned to trade after a holiday on Monday, slipped 0.69% to end its trading day at 21,535.25. The Topix index also shed 0.48% to close at 1,568.74,South Korea’s Kospi ended its trading day 0.45% higher at 2,091.87. The Korea Ex
Asia stocks mixed as RBA meeting minutes show willingness to move on interest rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, meeting, trading, shed, shenzhen, xiaomi, asia, rba, interest, korean, close, index, day, slipped, million, rates, minutes, mixed, willingness


Asia stocks mixed as RBA meeting minutes show willingness to move on interest rates

Stocks in Asia were mixed on Tuesday, as minutes from a recent meeting by the Reserve Bank of Australia showed the central bank’s willingness to move on monetary policy if necessary.

In China, the Shanghai composite slipped 0.16% to close at 2,937.62, while the Shenzhen component shed 0.28% to finish its trading day at 9,283.41. The Shenzhen composite closed just below the flatline at 1,571.81.

Hong Kong’s Hang Seng index advanced about 0.1%, as of its final hour of trading.

Shares of Chinese tech heavyweight Xiaomi slipped 0.32%. The firm took a 6% stake in chip designer VeriSilicon Holdings, with the move coming amid Beijing’s push for China to become more reliant in sectors such as chips. Xiaomi is set to announce quarterly earnings results in the second half of August.

The Nikkei 225 in Japan, which returned to trade after a holiday on Monday, slipped 0.69% to end its trading day at 21,535.25. The Topix index also shed 0.48% to close at 1,568.74,

South Korea’s Kospi ended its trading day 0.45% higher at 2,091.87. The Korea Exchange said Tuesday it would impose a 175 million Korean won (approx. $0.149 million) fine on Bank of America Merrill Lynch’s South Korean branch for irregular trading activities, Reuters reported.

Over in Australia, the benchmark S&P/ASX 200 slipped 0.18% to close at 6,641.00. Shares of miner Rio Tinto slipped 0.64% after the company announced a cost blowout and delay at its underground copper mine in Mongolia, along with a 3.5% drop in second-quarter iron ore shipments due to disruptions caused by a tropical cyclone earlier in the year.

Overall, the MSCI Asia ex-Japan index added 0.2%.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, meeting, trading, shed, shenzhen, xiaomi, asia, rba, interest, korean, close, index, day, slipped, million, rates, minutes, mixed, willingness


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The bug in Zoom that could’ve let hackers spy on video meetings tapped into people’s deepest fears about tech

This week, consumers learned about a flaw in the Zoom meeting app that could theoretically allow an attacker to gain access to a video chat or meeting if one of the participants is using a Mac computer. Zoom quickly fixed the problem with a patch, and said the problem had not affected any users. It’s the kind of bug companies find themselves fixing everyday. Even Facebook CEO Mark Zuckerberg tapes over his laptop camera, according to an Instagram photo he posted in 2016. In other words, the Zoom


This week, consumers learned about a flaw in the Zoom meeting app that could theoretically allow an attacker to gain access to a video chat or meeting if one of the participants is using a Mac computer. Zoom quickly fixed the problem with a patch, and said the problem had not affected any users. It’s the kind of bug companies find themselves fixing everyday. Even Facebook CEO Mark Zuckerberg tapes over his laptop camera, according to an Instagram photo he posted in 2016. In other words, the Zoom
The bug in Zoom that could’ve let hackers spy on video meetings tapped into people’s deepest fears about tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-14  Authors: kate fazzini
Keywords: news, cnbc, companies, kind, fears, meeting, tech, zoom, peoples, bug, video, stock, hackers, flaw, meetings, problem, spy, mac, let, products, tapped


The bug in Zoom that could've let hackers spy on video meetings tapped into people's deepest fears about tech

Passersby walk under a surveillance camera as part of face ID technology test at Berlin Suedkreuz station on Aug. 3, 2017 in Berlin, Germany.

This week, consumers learned about a flaw in the Zoom meeting app that could theoretically allow an attacker to gain access to a video chat or meeting if one of the participants is using a Mac computer.

Researcher Jonathan Leitschuh reported the flaw on July 8 in a Medium post. Zoom quickly fixed the problem with a patch, and said the problem had not affected any users. Apple later pushed a “silent update ” to Mac operating systems to prevent the exploit from being used on machines that hadn’t yet applied the Zoom fix.

It was the kind of interesting discovery that bug bounty hunters report every day. It’s the kind of bug companies find themselves fixing everyday.

But from a user perspective, the issue created a great deal more buzz than those everyday problems normally do.

Part of reason was because Zoom is one of the hottest business tech stories of the year, with a stock price that’s risen more than 150% since its April IPO. Zoom’s stock saw virtually no impact after the flaw revelations.

But the flap also comes after months of revelations on how home assistant products from Amazon and Google use employees to monitor conversations in your home, and years of reports of hackers accessing video cameras on laptops and other computers. Even Facebook CEO Mark Zuckerberg tapes over his laptop camera, according to an Instagram photo he posted in 2016.

In other words, the Zoom bug shows how consumers are conflicted and nervous over the newest class of products which offer new kinds of convenience in new places — but new potential for exposure, too.


Company: cnbc, Activity: cnbc, Date: 2019-07-14  Authors: kate fazzini
Keywords: news, cnbc, companies, kind, fears, meeting, tech, zoom, peoples, bug, video, stock, hackers, flaw, meetings, problem, spy, mac, let, products, tapped


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Disorderly Brexit now seen as a ‘significant risk’ by Irish finance minister

The Irish finance minister has warned that his government is stepping up preparations given the “significant risk” of a disorderly Brexit. The two candidates for the role of the U.K.’s next prime minister have continued to criticize each other’s plans for Britain to leave the European Union (EU) but neither have completely ruled out leaving with no deal in place at all. “From the point of view of the Irish government we now believe that the prospect of a disorderly Brexit is now a significant ri


The Irish finance minister has warned that his government is stepping up preparations given the “significant risk” of a disorderly Brexit. The two candidates for the role of the U.K.’s next prime minister have continued to criticize each other’s plans for Britain to leave the European Union (EU) but neither have completely ruled out leaving with no deal in place at all. “From the point of view of the Irish government we now believe that the prospect of a disorderly Brexit is now a significant ri
Disorderly Brexit now seen as a ‘significant risk’ by Irish finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: willem marx
Keywords: news, cnbc, companies, european, prospect, irish, finance, meeting, risk, disorderly, seen, significant, minister, prime, brexit


Disorderly Brexit now seen as a 'significant risk' by Irish finance minister

The Irish finance minister has warned that his government is stepping up preparations given the “significant risk” of a disorderly Brexit.

The two candidates for the role of the U.K.’s next prime minister have continued to criticize each other’s plans for Britain to leave the European Union (EU) but neither have completely ruled out leaving with no deal in place at all. The uncertainty has sent pound sterling to near two-year lows versus the U.S. dollar.

“From the point of view of the Irish government we now believe that the prospect of a disorderly Brexit is now a significant risk and the Irish government is meeting to day to review our readiness for this great challenge,” Paschal Donohoe told CNBC at a meeting of European finance chiefs in Brussels on Tuesday.

Donohoe also claimed that it was important that new leadership at the European Commission — the EU’s executive branch — be appointed quickly.

This was necessary, he said, “to allow Europe to respond back to protect our single market and to ensure that we can rise to the risks that might be created in dealing with Brexit.”

The Irish government issued a new Brexit planning document this week and at a press conference to mark its publication, the country’s deputy prime minister Simon Coveney described a disorderly British departure from the EU as an “ugly prospect.”


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: willem marx
Keywords: news, cnbc, companies, european, prospect, irish, finance, meeting, risk, disorderly, seen, significant, minister, prime, brexit


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Dollar slammed after Powell’s bleak US outlook

The greenback hit session lows versus the euro and yen after Powell’s comments, which reinforced expectations the Fed will cut interest rates for the first time in a decade at its next monetary policy meeting later this month. “We had previously anticipated that those positive developments would convince the Fed to delay that rate cut until September.” The Fed minutes of the June policy meeting released on Wednesday as well echoed Powell’s comments to Congress. Charlie Ripley, senior investment


The greenback hit session lows versus the euro and yen after Powell’s comments, which reinforced expectations the Fed will cut interest rates for the first time in a decade at its next monetary policy meeting later this month. “We had previously anticipated that those positive developments would convince the Fed to delay that rate cut until September.” The Fed minutes of the June policy meeting released on Wednesday as well echoed Powell’s comments to Congress. Charlie Ripley, senior investment
Dollar slammed after Powell’s bleak US outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10
Keywords: news, cnbc, companies, cut, outlook, rates, bleak, powells, rate, fed, meeting, war, policy, dollar, trade, slammed, minutes, investment


Dollar slammed after Powell's bleak US outlook

The dollar retreated on Wednesday after Federal Reserve Chairman Jerome Powell struck a downbeat tone in congressional testimony, saying trade uncertainties and concerns about the global outlook continued to exert pressure on the U.S. economy.

The greenback hit session lows versus the euro and yen after Powell’s comments, which reinforced expectations the Fed will cut interest rates for the first time in a decade at its next monetary policy meeting later this month.

In prepared remarks to a congressional committee, Powell said the Fed stands ready to “act as appropriate” to sustain a decade-long expansion.

He also contrasted the Fed’s “baseline outlook” of continued U.S. growth against a considerable set of risks – including persistently weak inflation, slower growth in other major economies, and a downturn in business investment driven by uncertainty over just how long the Trump administration’s trade war with China and other countries will last.

“Powell’s semi-annual testimony to Congress indicates that despite the trade truce following the recent G20 meeting and the strength of employment growth in June, the Fed intends to push ahead with a rate cut at the FOMC meeting at the end of this month,” said Paul Ashworth, chief U.S. economist, at Capital Economics. “We had previously anticipated that those positive developments would convince the Fed to delay that rate cut until September.”

Expectations for a 50-basis-point rate cut at the July meeting have evaporated, but investors still expect a 25 basis-point cut due to weak inflation and worries about growing business fallout from the U.S.-China trade war. The Fed minutes of the June policy meeting released on Wednesday as well echoed Powell’s comments to Congress.

In their June 18-19 meeting, which introduced the near-term possibility of a rate cut, multiple policymakers said rates should come down to “cushion the effects” of a U.S. trade war and to firm up inflation that is failing to meet the central bank’s 2%-a-year target, according to minutes from that meeting released on Wednesday.

Charlie Ripley, senior investment strategist at Allianz Investment Management said the Fed minutes backed expectations of a near-term rate cut.

“The idea of ‘insurance’ rate cuts may be a difficult proposition for some policy makers to grasp, but markets are signaling that a decline in policy rates is required in order to sustain the current economic expansion,” he added.

In afternoon trading, the dollar index slid 0.4% to 97.097. Against the yen, the dollar fell 0.4% to 108.43, dropping 0.5% against the Swiss franc to 0.9892 franc. The euro, meanwhile, rose 0.4% to $1.1252.


Company: cnbc, Activity: cnbc, Date: 2019-07-10
Keywords: news, cnbc, companies, cut, outlook, rates, bleak, powells, rate, fed, meeting, war, policy, dollar, trade, slammed, minutes, investment


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China appears to be the winner of the Trump-Xi meeting at G-20, experts say

In addition, Trump said he agreed to allow Huawei to purchase U.S. products and China will buy “large amounts” of American farm produce. Washington had earlier announced a ban that restricts Huawei’s ability to do business with U.S. firms due to national security concerns. Trump’s apparently softer stance on the Chinese tech giant was seen by some observers as a major concession that the U.S. has granted China. “It is looking like, so far, China is coming out as a winner from this G-20,” Frances


In addition, Trump said he agreed to allow Huawei to purchase U.S. products and China will buy “large amounts” of American farm produce. Washington had earlier announced a ban that restricts Huawei’s ability to do business with U.S. firms due to national security concerns. Trump’s apparently softer stance on the Chinese tech giant was seen by some observers as a major concession that the U.S. has granted China. “It is looking like, so far, China is coming out as a winner from this G-20,” Frances
China appears to be the winner of the Trump-Xi meeting at G-20, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: yen nee lee
Keywords: news, cnbc, companies, say, xi, experts, chief, trump, meeting, trumpxi, agreed, products, g20, winner, told, trade, appears, china, squawk


China appears to be the winner of the Trump-Xi meeting at G-20, experts say

U.S. President Donald Trump has touted his meeting with Chinese President Xi Jinping at the weekend as “far better than expected” — but several trade and investment experts said Beijing appears to have gained the upper hand in the trade war.

Trump and Xi agreed at the G-20 summit in Japan to withhold from slapping additional tariffs on each other’s products as the two sides return to the negotiating table in a bid to finalize a trade agreement. In addition, Trump said he agreed to allow Huawei to purchase U.S. products and China will buy “large amounts” of American farm produce.

Washington had earlier announced a ban that restricts Huawei’s ability to do business with U.S. firms due to national security concerns. Trump’s apparently softer stance on the Chinese tech giant was seen by some observers as a major concession that the U.S. has granted China.

“It is looking like, so far, China is coming out as a winner from this G-20,” Francesco Filia, chief executive and chief investment officer at asset management firm Fasanara Capital, told CNBC’s “Squawk Box Europe” on Monday.

“It’s not even clear what they gave up in order to get it,” he said, noting there was a lack of details about what the two leaders agreed on at the meeting.

Filia is not the only one who has expressed skepticism over the U.S.-China trade developments.

Trump standing down on some of his threats to China was “one of the most concerning outcomes at the G-20,” said Danielle DiMartino Booth, chief executive of research firm Quill Intelligence.

“It looks as if he obviously gave a lot of ground back to China,” she told CNBC’s “Squawk Box Asia” on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: yen nee lee
Keywords: news, cnbc, companies, say, xi, experts, chief, trump, meeting, trumpxi, agreed, products, g20, winner, told, trade, appears, china, squawk


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Asia stocks mostly edge up as Australia’s central bank slashes rates to new all-time low

Stocks in Asia mostly edged up on Tuesday, as the Reserve Bank of Australia (RBA) slashed its cash rate to a new all-time low. “Today’s decision to lower the cash rate will help make further inroads into the spare capacity in the economy. Blythe added that a third rate cut was likely “coming along,” with a cash rate lower than 1% likely to come before the end of 2019. That’s a question “particularly” for the U.S. Federal Reserve, he said, ahead of the central bank’s monetary policy meeting later


Stocks in Asia mostly edged up on Tuesday, as the Reserve Bank of Australia (RBA) slashed its cash rate to a new all-time low. “Today’s decision to lower the cash rate will help make further inroads into the spare capacity in the economy. Blythe added that a third rate cut was likely “coming along,” with a cash rate lower than 1% likely to come before the end of 2019. That’s a question “particularly” for the U.S. Federal Reserve, he said, ahead of the central bank’s monetary policy meeting later
Asia stocks mostly edge up as Australia’s central bank slashes rates to new all-time low Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, rate, rates, trade, central, alltime, cash, bank, reserve, trading, australias, edge, rba, asia, slashes, meeting, low, banks


Asia stocks mostly edge up as Australia's central bank slashes rates to new all-time low

Over in Australia, the S&P/ASX 200 gained fractionally to end its trading day at 6,653.20 as most sectors advanced.

The Nikkei 225 in Japan added 0.11% to close at 21,754.27, while the Topix rose 0.31% to finish its trading day at 1,589.84. In South Korea, however, the Kospi slipped 0.36% close at 2,122.02.

Hong Kong’s Hang Seng index , which returned to trade after a holiday on Monday, jumped 1.26%, as of 3:16 p.m. HK/SIN.

Mainland Chinese stocks were mostly higher on the day, with the Shenzhen component gaining 0.16% to 9,545.52 and the Shenzhen composite adding 0.159% to 1,619.12. The Shanghai composite , on the other hand, was just below the flatline at 3,043.94.

Stocks in Asia mostly edged up on Tuesday, as the Reserve Bank of Australia (RBA) slashed its cash rate to a new all-time low.

The RBA announced earlier on Tuesday that it was cutting its cash rate by 25 basis points to a a new all-time low of 1%, marking its second straight month of easing after it slashed rates in June.

“Today’s decision to lower the cash rate will help make further inroads into the spare capacity in the economy. It will assist with faster progress in reducing unemployment and achieve more assured progress towards the inflation target,” RBA Governor Philip Lowe said in a statement.

Following the widely expected decision by the Australian central bank, the Australian dollar changed hands at $0.6986, still below levels above $0.700 seen yesterday.

“If you’re focused on trying to squeeze out that excess capacity in the labor market, get a bit of wages growth going and … eventually getting back to your inflation target then … certainly a rate cut is the major weapon in the Reserve Bank’s arsenal and they’ve deployed it for the last two months,” Michael Blythe, chief economist at Commonwealth Bank, told CNBC’s “Capital Connection” minutes following the RBA announcement.

Blythe added that a third rate cut was likely “coming along,” with a cash rate lower than 1% likely to come before the end of 2019.

Meanwhile, investors cheered recent developments over the weekend on the U.S.-China trade front, with the two countries’ presidents agreeing not to slap new duties on each others goods after meeting at the G-20 summit in Osaka, Japan. U.S. President Donald Trump said Monday that trade talks between the two countries have “already begun. ”

“I think the question for a lot of central banks now after the G-20 is, how does this truce between China and Trump evolve?,” Wayne Gordon, commodity, rates and foreign exchange analyst at UBS Global Wealth Management, told CNBC’s “Street Signs” on Tuesday.

“If in the end there is a deal that comes of this, I think it’s still highly uncertain but if indeed there is, central banks may not be as worried about growth, particularly on the trade side, as what they would have been otherwise,” Gordon said.

That’s a question “particularly” for the U.S. Federal Reserve, he said, ahead of the central bank’s monetary policy meeting later this month. In June, the Fed opened the door to a possible future rate cut as it kept interest rates steady.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.759 after rising from levels below 96.6 in the previous session. The Japanese yen traded at 108.31 against the dollar following lows above 108.4 seen yesterday.

Oil prices recovered from an earlier slip to rise in the afternoon of Asian trading hours, as international benchmark Brent crude futures added 0.26% to $65.23 per barrel, while U.S. crude futures gained 0.14% to $59.17 per barrel.

The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend production cuts by nine months. The deal is subject to approval from non-OPEC allies, such as Russia, at a meeting on Tuesday.

— CNBC’s Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, rate, rates, trade, central, alltime, cash, bank, reserve, trading, australias, edge, rba, asia, slashes, meeting, low, banks


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